Exhibit 12

Kimco Realty Corporation and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(in thousands, except for ratio)

	For the year ended December 31,
	2017		2016			2015			2014			2013
Pretax earnings from continuing operations before adjustment for noncontrolling interests or income (loss) from equity investees	$	239,867	$	305,361	(1)(2)	$	675,657	(3)	$	102,726		$	62,370
Add:
Interest on indebtedness (excluding capitalized interest)		191,483		190,636			222,542			212,081			215,233
Amortization of debt related expenses (including capitalized interest)		13,326		16,759			21,974			2,025			7,263
Portion of rents representative of the interest factor		7,287		7,076			7,877			8,435			7,888
		451,963		519,832			928,050			325,267			292,754
Distributed income from equity investees		58,189		90,589			126,263			255,532			258,050
Pretax earnings from continuing operations, as adjusted	$	510,152	$	610,421		$	1,054,313		$	580,799		$	550,804
Fixed charges -
Interest on indebtedness (including capitalized interest)	$	205,963	$	199,883		$	228,160		$	213,370		$	216,496
Amortization of debt related expenses		8,118		11,837			17,228			(2,631	)		2,642
Portion of rents representative of the interest factor		7,287		7,076			7,877			8,435			7,888
Fixed charges	$	221,368	$	218,796		$	253,265		$	219,174		$	227,026
Ratio of earnings to fixed charges		2.3		2.8			4.2			2.6			2.4

(1) Includes an aggregate gain on liquidation of real estate joint venture interests of $138.5 million.

(2) Includes early extinguishment of debt charges of $45.7 million.

(3) Includes an aggregate gain on liquidation of real estate joint venture interests of $373.8 million.

Kimco Realty Corporation and Subsidiaries

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(in thousands, except for ratio)

	For the year ended December 31,
	2017		2016			2015			2014			2013
Pretax earnings from continuing operations before adjustment for noncontrolling interests or income (loss) from equity investees	$	239,867	$	305,361	(1)(2)	$	675,657	(3)	$	102,726		$	62,370
Add:
Interest on indebtedness (excluding capitalized interest)		191,483		190,636			222,542			212,081			215,233
Amortization of debt related expenses (including capitalized interest)		13,326		16,759			21,974			2,025			7,263
Portion of rents representative of the interest factor		7,287		7,076			7,877			8,435			7,888
		451,963		519,832			928,050			325,267			292,754
Distributed income from equity investees		58,189		90,589			126,263			255,532			258,050
Pretax earnings from continuing operations, as adjusted	$	510,152	$	610,421		$	1,054,313		$	580,799		$	550,804
Combined fixed charges and preferred stock dividends -
Interest on indebtedness (including capitalized interest)	$	205,963	$	199,883		$	228,160		$	213,370		$	216,496
Preferred dividend factor		46,599		53,063			60,103			61,727			65,135
Amortization of debt related expenses		8,118		11,837			17,228			(2,631	)		2,642
Portion of rents representative of the interest factor		7,287		7,076			7,877			8,435			7,888
Combined fixed charges and preferred stock dividends	$	267,967	$	271,859			313,368			280,901			292,161
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		1.9		2.2			3.4			2.1			1.9

(1) Includes an aggregate gain on liquidation of real estate joint venture interests of $138.5 million.

(2) Includes early extinguishment of debt charges of $45.7 million.

(3) Includes an aggregate gain on liquidation of real estate joint venture interests of $373.8 million.